Jumeirah Lake Towers

Jumeirah Lake Towers was announced in 2004 and was originally to be overseen by Nakheel Properties. As we understand, Nakheel is no longer considered the master-developer of the community and that mandate has shifted to DMCC.

All the towers in JLT are a minimum of 35 storeys tall. The tallest building, and the center piece of JLT is the Almas Tower, one of Dubai’s tallest buildings. Other towers range in size from between 35 – 45 storeys tall.

Office Market

There are a total of 27 towers in JLT that have office space, and only one office building is currently under-construction.

Most of the office buildings in JLT are Grade B quality. A major drawback of office supply in JLT and in the Dubai in general is the fact that they have STRATA ownership – which is a drawback for office buildings when viewed from global best practices perspective. Most developers sell office space at the time of launching a project. Therefore, by the time a building is ready, there are hundreds of owners who have purchased various sizes of office space. These type of buildings are not attractive for big business, especially the International Corporations who look for larger spaces in quality buildings with well structured management in place.

Still, JLT is one of the handful of areas within Dubai where a buyer can purchase freehold office space (the others being Business Bay and Dubai Silicon Oasis).

The proposed Burj 2020 which would be the premier commercial development in Dubai is located at the back of Jumeirah Lake Towers:

Positives of Jumeirah Lake Towers – JLT

An all in one community right on Sheikh Zayed road: Apartments, Office space, Hotels & growing retail activity.

Two metro stations help connect JLT to the rest of the city.

The community is being greened. Unlike in Dubai Marina (across the road), there are more open spaces, a couple of parks and good connectivity between the clusters without having to enter onto any main roads.

Prices are still much cheaper psf when compared to other communities. JLT psf offers much more value than most of the buildings in the Marina.